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Williams confirms income up by 25 per cent

– Williams increased its come by 25 per cent to over £130 million in 2013, it has been announced. Williams Grand Prix Holdings PLC, which includes Williams Grand Prix Engineering Limited – the Formula 1 team, said the increase in income and earnings was due primarily to 'a special non-recurring sponsorship payment', which drove an increase in Formula 1 income to £108.5m, and a corresponding improvement in Earnings Before Income and Tax (EBIT). The team did not elaborate on where the 'special' payment came from, but it is no doubt linked to PDVSA's decision to terminate its sponsorship deal with the team early and place Pastor Maldonado at Lotus. The Venezuelan oil company had...
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